Chevron Phillips to invest $6bn in Basra

October 17/2011

(Iraq-BusinessNews) -- The
American petrochemical producer Chevron Phillips Chemical is to invest $6
billion (7.2 trillion Iraqi dinars) to create a new facility in Basra. The
Company has obtained a licence to operate in the city, and that Basra Investment
Commission has also voiced its support for the project and is now seeking to
allocate a plot of land. Once launched, the project is expected to provide up to
one thousand jobs for local people.